{"id":64239,"date":"2025-11-03T08:44:33","date_gmt":"2025-11-03T07:44:33","guid":{"rendered":"https:\/\/www.captrader.com\/?post_type=analyse&p=64239"},"modified":"2025-11-03T08:44:35","modified_gmt":"2025-11-03T07:44:35","slug":"dax-takes-its-time","status":"publish","type":"analyse","link":"https:\/\/www.captrader.com\/en\/analyse\/dax-laesst-auf-sich-warten\/","title":{"rendered":"DAX takes its time\u00a0"},"content":{"rendered":"

Dear traders, dear stock market friends.<\/p>\n\n\n\n

While the US share indices reached record highs again last week, the DAX is still in a sideways consolidation phase. However, the longer this sideways phase and low volatility continues, the more likely it is that there will soon be a sustained breakout, for which preparations can be made now.<\/p>\n\n\n\n

DAX quotes above weekly EMA 20<\/strong><\/h2>\n\n\n\n

Although the DAX has been consolidating sideways since the beginning of June and has not made any sustained upward movement since then, the index is still trading above the weekly EMA-20, indicating that the long-term upward trend is still fully intact and that the DAX is merely taking a breather after the strong rally in the preceding months.<\/p>\n\n\n\n

It is now important that the support zone in the range of 23,300 - 23,400 points can be defended. For short-term traders, a retest of this support would offer the potential for new long entries. However, the next sustainable long signal will only emerge if the market breaks above the resistance at 24,500 points.<\/p>\n\n\n\n

The weekly Bollinger Bands are currently at exactly the same price levels as the support area on the downside and the resistance area on the upside. A breakout above or below one of the Bollinger Bands would therefore be an important trend signal and is very likely to lead to the creation of new momentum. Due to the long-term primary uptrend and the seasonally strong phase at the end of the year, an upward breakout would be favored.<\/p>\n\n\n\n

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DAX Index weekly chart<\/figcaption><\/figure>\n\n\n\n

Economic environment and economic developments<\/strong><\/h2>\n\n\n\n

The macroeconomic environment for the DAX remains mixed: Germany's GDP stagnated in the third quarter of 2025 compared to the previous quarter (0.0 %), burdened by weaker exports, among other things, while investments in equipment increased slightly. By contrast, the continuing disinflationary trend can certainly be seen as a positive signal for the DAX. Inflation in the eurozone fell to 2.1 % (flash) in October, with 2.3 % expected for Germany. The ECB left its key interest rates unchanged on October 30. Overall, this creates an environment in which the market is waiting for better data, but monetary policy is not stepping on the brakes.<\/p>\n\n\n\n

Positive impetus from the USA<\/strong><\/h2>\n\n\n\n

Even if new all-time highs in the DAX are still to come, there has recently been a noticeable tailwind from the USA: in the last week of October, the Dow Jones, S&P 500 and Nasdaq 100 rose to new record highs.<\/p>\n\n\n\n

In addition to the Fed's latest interest rate cut and an easing of the trade conflict between the USA and China, as well as a temporary pause in customs duties and talks on rare earths, the positive sentiment was supported by strong quarterly figures from tech companies:<\/p>\n\n\n\n